Digitalization, Need for Asset Tracking and Accurate Technologies Boost Growth in Real-time Location Systems Market
New ARC Advisory Group research on the Real-time Location Systems (RTLS) market reveals that the market is in a double-digit growth phase, which most emerging technologies go through when they really start to take off. This phase is characterized by aggressive proliferation of new competitors and technology innovators and accompanied by partnerships and acquisitions among major industrial automation suppliers and traditional real-time location systems solutions providers.
“There is a growing need for real-time visibility into the most important areas of the industrial operations across multiple locations or a specific area – assets, work-in-progress (WIP), heavy mobile machinery, automated guided vehicles (AGVs), and robots. Digitalization, Industrial IoT, analytics, and the need for asset tracking and reliable and accurate location data of assets at the right time to the right people are creating a demand for real-time location systems,” according to Naresh K. Surepelly, Senior Analyst at ARC Advisory Group and key author of ARC’s Real-time Location Systems Global Market Research report.
“As more users adopt real-time locating solutions, they push more different use cases and find the limits of where their chosen technologies don’t exactly work well enough. Together, these lead to users wanting a platform to both insulate them from technology change and allow them to better manage a mix of real-time location technologies,” added Naresh.